Globalive Capital has acquired VimpelCom‘s stake in the Toronto-based wireless firm WIND Mobile. No financial terms were disclosed. Funding for the transaction was provided by investors that include West Face Capital, Tennenbaum Capital Partners, LG Capital Investors, Serruya Private Equity and Novus Wireless Communications.
TORONTO, ONTARIO–(Marketwired – Sept. 16, 2014) – Today, Globalive Capital, the investment company of WIND Mobile’s Chairman and Chief Executive Officer Anthony Lacavera, announced that it has acquired all of VimpelCom’s direct and indirect debt and equity interests in WIND Mobile.
This acquisition was funded, in part, by a consortium of investors including West Face Capital, Tennenbaum Capital Partners, LG Capital Investors, Serruya Private Equity, and Novus Wireless Communications.
The next stage of the transaction requires regulatory approval, which the parties are seeking forthwith.
This announcement is a positive development for WIND Mobile and Canadian consumers, including WIND Mobile’s 750,000 happy customers. “With stable, long-term ownership and secure financing, WIND Mobile is moving into an exciting new phase,” said Mr. Lacavera. “WIND Mobile is now poised to continue to bring True Mobile Freedom to Canadians for many years to come.”
“The federal government’s delivery on its promise to create the conditions for viable long-term wireless competition has not gone unnoticed by the investment community,” said Greg Boland, President and Chief Executive Officer of West Face Capital. “We and our partners are pleased to invest in this transaction and we are excited by the future of WIND Mobile.”
About Globalive Capital
Globalive Capital is the investment company of Anthony Lacavera. The partners at Globalive Capital, led by Brice Scheschuk and Simon Lockie, have over 80 years of operating and investment experience. Globalive Capital invests in telecommunications companies, real estate, and early stage technology ventures. Globalive Capital’s portfolio companies have won a number of awards, including Canada’s 50 Best Managed Companies for the past 10 consecutive years, Best Workplaces in Canada, Canada’s 10 Most Admired Corporate Cultures, Deloitte’s Canadian Technology Fast 50, and series of Profit Magazine rankings, including a #1 ranking on Profit Magazine’s listing of Canada’s Fastest Growing companies. Globalive Capital’s charitable activities are managed through the SHAMBA Foundation. Please visit www.globalive.com.
About WIND Mobile
WIND Mobile is dedicated to improving the Canadian wireless experience by offering customers simple and transparent plans, including real unlimited data/voice/text with no-term contracts and no hidden fees. Committed to be the country’s fourth national carrier, WIND has more than 750,000 happy customers in Canada. Learn more about WIND Mobile at www.WINDmobile.ca or follow online at www.facebook.com/WINDmobile or www.twitter.com/WINDmobile.